Human resource management
Research indicates that there are many things a company does but it should always concentrates on what it can produce best. The internal analysis facilitates the formulation of strategic plan which requires a clear understanding of the internal strengths acquired over time and any weakness that adversely impact on performance. Distinctive competencies are things that give a firm an advantage over similar businesses.
Research also indicates that no matter how attractive an opportunity may be the business must have the competencies to capitalize on it. An opportunity without the competence to capture it is no really an opportunity to the business. (Baker, 2000) Decision making has become a complicated affair since all the decisions have to adhere to international standards. Human resource management policies, strategies and practices are fundamental tools for any organization.
The most important asset for any organization is its human resource and therefore all issues affecting the workforce will be affecting the organizational performance directly. It has been found that issues of planning, recruitment, selection, retention, motivation, evaluation and industrial relations for employees are of grave concerns and are usually addressed through effective human resource management practices. (Mark, 2001)
Baker, M. (2000): Marketing Management and Strategy, 3rd Edition: London.Macmillan Business
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